Costain is rolling out its social value forecasting and monitoring tool across all its projects.
The tool standardises data-driven evidence of the positive societal and environmental impacts achieved during a project’s lifecycle. The collected data is then analysed and converted into social, environmental and economic valuations, aligning with the government’s Social Value Model.
In addition, the tool can report against bespoke frameworks when required by customers, making it possible to benchmark performance and outcomes against similar infrastructure schemes. It also has built-in forecasting capabilities that allow Costain to predict how much social value a project will deliver before it begins, in turn helping to improve the accuracy of target-setting and providing a better understanding of a project’s expected outcomes.
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The tool was successfully piloted on some of Costain’s projects in the water sector, including CMDP, the Costain/MWH Treatment joint venture delivering AMP7 for Southern Water. CMDP has supported the Hands of Hope charity to create spaces at the Hope Farm Community Garden to help the charity deliver community programmes aimed at tackling rural isolation, loneliness and food poverty.
In addition, Xenia Magdaleno-Tseng, a project engineer and STEM ambassador operating at the Lingfield wastewater treatment works site, has judged a local school’s engineering competition, working with students on their learning goals and inspiring the next generation of STEM professionals.
Helping communities and the supply chain
Julie Francis, head of people and customer at CMDP, said: “We place a strong emphasis on social value and recognise the profound benefits of utilising technology and tools that benefit local communities and help our supply chain as we deliver crucial updates for Southern Water.
“With Costain’s social value tool, we are able to accurately capture key information and measure the impact of how our initiatives are improving people’s lives and helping the planet. The tool also empowers our supply chain partners, ensuring that we continue to work together to drive positive change and create lasting value.”
Last year, Costain announced its Social Value Plan, which aims to improve the lives of one million people by 2030 through activities such as volunteering and community initiatives.
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